The folk wisdom is that competition reduces agency costs. We provide indirect empirical support for this view. We argue … the relation between current leverage and future returns for such firms will be zero or negative. Using a proxy to …

market for issuing bonds. Studies of the effects of competition have often used small samples of bond issues--often in one or …We explore the effects of two kinds of competition on the cost of capital in the tax-exempt bond market: (1 …) competition amongst underwriters and (2) competition amongst issuers (most of which are quasi-public special authorities …

Open borders imply systems competition. This paper studies the implications of systems competition for the national … competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since …

We study the consequences of hospital competition for Medicare beneficiaries' heart attack care from 1985 to 1994. We … hospital markets, and how hospital competition interacts with the influence of managed care organizations to affect the key … competition were ambiguous; but in the 1990s, competition unambiguously improves social welfare. Increasing HMO enrollment over …

This paper studies the impact of technological change and regulatory competition on governmental efforts to generate …

In this paper we review issues relating to antitrust and competition in health care markets. The paper begins with a … ways that might affect the optimality of competition. The paper then focuses on the main areas in which antitrust has been …

getting from one point to another, regulation may be avoided by allowing competition between several franchise owners. This … paper studies toll competition among private roads with congestion. The paper derives two main results. First, we find … is less than optimal, which runs counter to what is expected form price competition. While a lower toll reduces the out …

frictions and the increase in specialization have exactly offsetting effects on the extent of competition in the market. Under …